Uptown apartment building sells for $9.5M

the lafayette

The Lafayette at 1222 E. 16th Ave. in Denver sold for $9.5 million. (Thomas Gounley)

A 41-unit Uptown apartment building has changed hands.

Chicago-based Highlands REIT Inc., acting as The Lafayette Denver LLC, purchased The Lafayette at 1222 E. 16th Ave. in Denver for $9.53 million this week, according to county records.

The 24,500-square-foot building on 0.3 acres dates to 1909, records show.

The seller was Louisville-based real estate investment firm Heartwood Capital, which purchased the property for $6.45 million in May 2016, according to records.

Heartwood Capital renovated the four-story building in 2016 and 2017, according to the company’s website.

The Lafayette has studios and one-, two- and three-bedroom units, according to the complex’s website. Studios start at $1,000 per month, with one bedrooms renting at $1,275 and up.

Erik Toll and Jules Hochman of Pinnacle Real Estate represented both buyer and seller.

the lafayette

the lafayette

The Lafayette at 1222 E. 16th Ave. in Denver sold for $9.5 million. (Thomas Gounley)

The four-story complex was last purchased in 2016 for $6.5 million, and underwent renovations in recent years.

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